US and Chinese negotiators have agreed on a framework to transfer TikTok into US-controlled ownership, easing years of dispute. Trade representatives confirmed that the commercial terms were set, though details remain undisclosed. Chinese negotiator Li Chenggang said both sides reached a consensus on resolving TikTok issues through cooperation.
The agreement follows US legislation requiring TikTok’s parent, ByteDance, to sell or face a ban. Earlier attempts by Microsoft, Walmart, and Oracle to acquire TikTok failed, though Oracle has provided US cloud services since 2022.
Final terms are expected after Donald Trump meets China’s president Xi Jinping on Friday. Officials stressed there would be no further extensions, declaring, “We have a deal.” TikTok has about 135 million US users, though it remains banned on federal devices.
